Sunday, May 28, 2017

Not good news to hear

Lopez [Modesto, CA city manager]is a member of the League of California Cities pension task force and as a member he is hearing that many cities are facing bankruptcy over rising pension costs.
He says the system will crash, local governments are simply inoperative when pension costs are 20-30% of the budget, and most cities are headed there, all at once.  

Joe is his name.

No comments: